RiskCom Case Studies

Insurance Industry: Global Oversight Framework Transformation

The Client

The client, a senior leader in the Oversight Framework and Market Supervision function within a leading global insurance market, was responsible for overseeing the risk management practices of Managing Agents (MAs) across multiple domains, including Underwriting, Capital Markets, Operational Resilience, Corporate Governance, and Financial Crime.

Background

The client was implementing a transformative programme to introduce a new Oversight Framework. This new approach sought to assess the capabilities of Managing Agents across technical areas, shifting from mere compliance to a more holistic, principle-based assessment. This required a significant change in mindset among oversight professionals, encouraging a broader, more integrated approach.

Solution

RiskCom utilised its expertise in risk communication to design and deliver a bespoke workshop titled “Optimising Judgement and Decision-Making.” This workshop, which combined virtual and in-person elements, was attended by over 100 oversight professionals. Key outcomes included:

• Adoption of a structured approach to decision-making and expert judgement.

• Enhanced proportionality in decisions, reflecting varying maturity levels.

• Increased confidence and empowerment in making challenging decisions.

• Creation of a psychologically safe environment for decision-making within teams.

• Ensuring consistent and fair treatment of Managing Agents.

Benefits

RiskCom’s involvement was crucial to the success of the early stages of the oversight transformation. Our dynamic and innovative approach to learning made complex subjects accessible and engaging, ensuring that new principles were effectively embedded through operational case studies and interactive workshops.

RiskCom Case Studies